Topic 4.3 - Politics and Regional Interests

The Era of Good Feelings

A time during James Monroe's presidency when the country entered a period of national unity, there was no war, and there was only one political party (the Democratic-Republicans)

Tariff of 1816

This protective tariff helped American industry by raising the prices of British manufactured goods, which were often cheaper and of higher quality than those produced in the U.S. The tariff made American products more affordable and persuaded Americans to purchase U.S. products.

Henry Clay

Who came up with the idea for the American System?

Kentucky

What state was Henry Clay from?

The American System

Economic program advanced by Henry Clay that included support for a national bank, high tariffs, and internal improvements; the plan emphasized strong role for federal government in the economy.

James Madison

Who was the President of the United States that signed the 2nd Bank of the United States into law?

1816

What year was the 2nd Bank of the United States (B.U.S.) established?

1819 - Panic of 1819

The first major peacetime financial crisis in the United States followed by a general collapse of the American economy including declining imports / exports and declining agricultural prices. This was the first evidence of what is known as the "business cycle." (periods of prosperity and periods of economic decline)

Missouri Compromise (Compromise of 1820)

3 parts:
1. Maine would be admitted as a free state
2. Missouri admitted as a slave state
3. no new slave states would be allowed above the 36 degrees 30 minutes latitude line. (existing slave states above this line would be allowed to continue practicing slavery).

Tallmadge Amendment

Sought to forbid the further introduction of slaves into Missouri and mandated that all children of slave parents born in the state after its admission should be free at the age of 25; failed to pass the Senate.

Henry Clay

Who was considered / known as the Great Compromiser?